New lower personal loan rates from Santander

Santander is to reduce the APR on unsecured personal loans for all new and existing 1|2|3, non-1|2|3, and Select customers to 4.3% from 4.5%.

In addition, personal loans will now be offered through the cahoot brand at 4.2%.
 
Details of the changes are as follows:

Santander 1|2|3 account customers: 4.3% APR for loans between £7,500 and £20,000;

Non-Santander 1|2|3 customers: 4.3% APR for loans between £7,500 and £15,000.

Santander Select customers: 4.3% APR guaranteed upon acceptance for loans between £7,500 and £20,000.

Santander is also launching a new low aggregator rate of 4.2% APR representative under the cahoot brand, available exclusively through cahoot.com and moneysupermarket.com. The 4.2% rate will be available to both new and existing customers borrowing between £7,500 and £15,000. Cahoot loans are provided by Santander UK plc and can only be serviced by telephone.
 
Ruben Justel, head of credit cards and loans, Santander UK, said: “We constantly review our loan rates to offer competitive and value for money products. With rates this low a Santander personal loan can be an effective way to reduce the cost or monthly repayment amount of more expensive borrowing, or fund a car purchase or home improvements.”

For more information, visit santander.co.uk.